Home Prices Made a 15.8% Annual Gain in July, Says Case-Shiller
September 27, 2022 from Floor Focus FloorDaily News
New York, NY, September 27,2022 – Home prices made a 15.8% annual gain in July, down from 18.1% in the previous month, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions.
The Ten-City Composite annual increase came in at 14.9%, down from 17.4% in the previous month. The 20-City Composite posted a 16.1% year-over-year gain, down from 18.7% in the previous month.
Tampa, Florida; Miami, Florida; and Dallas, Texas reported the highest year-over-year gains among the 20 cities in July. Tampa led the way with a 31.8% year-over-year price increase, followed by Miami in second with a 31.7% increase, and Dallas in third with a 24.7% increase. All 20 cities reported lower price increases in the year ending July 2022 versus the year ending June 2022.
Before seasonal adjustment, the U.S. National Index posted a -0.3% month-over-month decrease in July, while the Ten-City and 20-City Composites both posted decreases of -0.8%.
After seasonal adjustment, the U.S. National Index posted a month-over-month decrease of -0.2%, and the Ten-City and 20-City Composites posted decreases of -0.5% and -0.4%, respectively.
In July, only seven cities reported increases before and after seasonal adjustments.